MADRID | By Luis Arroyo | If we are a monetary union, there can be no buts or ifs. Spain needs capital to implement its reforms and restore its economy.
Articles by Miguel Navascués
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MADRID | By Luis Arroyo | Why is the ECB not announcing further interventions, helping investor confidence to recover, offering strangled banks liquidity until they start providing credit again?
MADRID | By Luis Arroyo | It is a grave mistake to stubbornly defend the application of the same strict rules whether the economy is growing or in recession, and social unrest and missed fiscal targets are testament to how wrong the current European policies are.
MADRID | The eurozone’s central bank should have acted as a last resort lender years ago, so peripheral economies would not have had to endure the punishment of excessive prices on market credit.
MADRID | Reigning in the public sector under austerity plans isn’t always good for the private sector, at least not today and not when a country has lost his monetary policy sovereignty.
MADRID | Economic growth is compatible with high debt, particularly when your central bank can make fears of default vanish and interest rates can be contained.
MADRID | What is important is that public debt drops and the economy recovers. And to achieve that, Japan has chosen the opposite strategy than the eurozone’s authorities.
MADRID | Post-war capitalism, in which the state had a leading hand addressing needs and creating markets, had extraordinary good results.
MADRID | The problem is that some eurocrats seem unable to realise the consequences of their irresponsible talk when they land jobs on the top of the European pyramid.
MADRID | The eurozone is trapped in internal conflicts that prevent the European Central Bank to compensate, as it should, the fluctuations of money demand.